Representative Sylvia Luke joined The Sports Animals to discuss H.B. 1586, now Act 268 after being signed by Governor Ige Monday, which will provide funding for development of a new stadium in Halawa and the area around it.
According to Rep. Luke, funding for the new stadium is one of the successes of this past legislative session and one of the “sleeper bills” that didn’t get a lot of attention.
It takes about $20 to $30 million every year just to do repair and maintenance, so it makes sense to do a one-time investment into a new stadium.
The $350 million appropriated was based on the estimate received from both the stadium authority and some of the national entities that build stadiums around the country based on a 35,000-seat stadium, which they agreed would be the appropriate size for the new stadium.
The money will not be coming completely from taxpayers, a chunk of it will be financed by revenue bonds that will encourage commercial development and public-private partnerships in building the new stadium. The significance is that it is not a one-time commitment for a large amount by the legislature and governor and will also build up the infrastructures around the stadium.
Representative Sylvia Luke represents the 25th House District (Makiki, Punchbowl, Nuuanu, Dowsett Highlands, Pacific Heights and Pauoa) and is serving her tenth term. She currently Chairs the House Finance Committee but has served on other committees, most notably as the Vice Speaker of the House; Chair of the House Committee on Judiciary; and Vice Chair of the House Committee on Economic Development and Business Concerns.